Jay-Z & Stargate Form Label

With Jay-Z having just finalized his multi-million dollar deal with Live Nation; reports are circulating that the rapper has formed a new record label with hit-makers Stargate – the duo behind big hits from the likes of Beyonce, Ne-Yo, Usher, Mary J and more:

Hot on the heels of his deal with Live Nation, which reportedly has the live music promotions giant contributing $5 million each year in overhead for five years, $25 million to finance Jay-Z’s external acquisitions and investments, plus $10 million per album for a minimum of three albums within the deal’s term, as well as aanother $20 million for other rights including publishing and licensing, Jay-Z is reportedly in the process of starting a new joint venture project with Norwegian based production crew Stargate.

The Stargate team of Tor Erik Hermansen and Mikkel S. Eriksen will join Jay-Z in the formation of the StarRoc record label imprint. {Source}